Fund House is a Peer-to-Peer lending platform, which gets
creditworthy borrowers and willing investors together to
transact on short to medium term personal
unsecured loans.

Fund House goes beyond conventional forms of risk
analysis of the borrower in order to serve a broader user
base. Banks typically look at CIBIL or other credit bureau
scores to make loan decisions. Fund House takes into account
1000s of data points to assess the creditworthiness of the
borrower such as net salary, expenditure trends, locality of
stay, educational qualification, utility and mobile bills,
asset holding, Investments, Credit card bills and online
spending behavior etc. This approach ensures that individuals
with a less favourable CIBIL score are also likely to get a
loan through our platform if they are credit worthy as our
proprietary machine learning algorithm generates a more
holistic credit profile of the borrower.

Fund House offers borrowers with the convenience to
getting loans while sitting at home without having to visit a
bank numerous times to sign papers and other formalities

We ensure that the process is completely transparent
with no hidden charges levied on the borrower

Fund House offers a streamlined and efficient approach to
personal finance making the process a very pleasant experience
for the borrowers

We also offer borrowers a chance to send and receive
proposals from prospective investors to ensure that both
parties reach a mutually beneficial arrangement.

Fund House is a platform for people with non-traditional
approach to borrowing, which ultimately results in lower
interest rates on the financing amount. All borrowers on
Fund House must meet the following criteria to be eligible to
be listed on our platform:

You must be an Indian
Resident

You must be more than 25
years old

You must have valid Indian
ID proof

You must have a valid
Indian bank account; and

You must register your
details on the website http://www.fundhouse.co.in

Where a prospective investor doesn't meet the standards
listed above, the investor can't be a member of Fund House,
until and unless specified by Fund House in a written legal
agreement.

Getting a loan largely depends on your capacity to pay.
At Fund House, you can interact with investors and put forward
a clear and concise image of your creditworthiness. It is
advised that you as borrowers share as much information as
you deem appropriate to make your listing more effective so
that more and more investors offer you loans. No information
is shared with third party agencies and limited visibility of
information is restricted to registered investors only.

Provide
complete and genuine details about yourself

Provide complete and authentic information including
details such as financial status, achievements, hobbies,
background, work, past track record and ability to repay
loan. We also advise you to verify your mobile numbers, your
social media accounts. This information might not be visible
to the Investor but he will definitely get to know that these
details are verified by Fund House. This will help investors
make favorable decisions to invest in you.

Explain
purpose of loan clearly

It is important to explain the purpose of loan in the
loan application. Investors take different purposes of loan
in different sense and on the basis of it, propose a rate of
interest. Explain in detail the financial capability to pay
off EMIs and supporting information such as income, savings,
expenses and credit history (credit cards and other bills'
payments).

Be an
active negotiator when receiving proposals from prospective
investors

You may avail a loan for a wedding, to buy a car or any
other personal use. Fund House presently does not deal in
commercial or corporate finance.

Fund House doesn't contemplate any reason to be unfit to
avail a loan. We at Fund House don't differentiate and judge
the cause for which an individual is looking for a loan, other
than the understandable circumstance that a person doesn't use
the money for any illegal or prohibited activity. One may
avail loans for several purposes such as:

For education

Credit to pay off ongoing
loans

Credit to make up for the
period when in between jobs

Credit for medical
predicaments

For Weddings and other such
significant occasions

For a Holiday

Credit to give Credit Card
bills

Mortgage for initial
capital required to buy for cars, bikes etc.

Credit for renovating the
house

These are few of our everyday life needs and this list
is not exhaustive, there can be many other valid circumstances
which may require an individual to avail a personal loan.

Disbursals and repayments for a loan through Fund House
can be done through various channels. All payment modes
recognized by the RBI such as Cheques, NEFT, IMPS, Bank
transfers, Cash Cards, Mobile wallets etc. can be availed.

The monthly installments you pay are not inclusive of
fees paid to Fund House. Monthly installments of Borrowers are
defined as per the rate of interest settled between the
investors and the borrowers. The EMI is directly given to the
investors and Fund House just acts as a facilitator for the
installments if the investor requests us to do so.

Fund House's
Fees

We charge a onetime listing fee of Rs. 1,500 from the
borrower at the time of listing.

This listing fee is currently waived off as a discount
for the festive season

Fund House can act as a facilitator of EMIs. The EMI you
pay does not include any payments made to us. Your EMI is
decided between you and the investors, and your repayment are
made directly to them.

The below mentioned processing fee structure would be
applicable upon disbursement of loan request:

Interest Rate

Disbursement Fees

16% or less

2% of Loan Amount or 2000 whichever is higher

16.25% to 21%

3% of Loan Amount or 3000 whichever is higher

21.25% to 25%

4% of Loan Amount or 4000 whichever is higher

25.25% to 28%

5% of Loan Amount or 5000 whichever is higher

Above 28%

6% of Loan Amount or 6000 whichever is higher

Pre-payment
of Loan

You can choose to make a prepayment of the entire loan
amount without any penalty/ prepayment charges, pre-closure
charges etc, however this has to be agreed in advance between
the borrower and their respective investors.

Non-Payment

In case you do not pay the EMI by the due date, Rs. 250
bounce charge and additional penal interest of 2% p.m. will
be applied to the due amount for the duration of delay which
you will be liable to pay to your Investor(s). In addition to
that, Fund House will charge a processing charge of Rs. 500.

It is advised to not change the bank account details
from which you intend to make the repayment. However, we do
not prevent you from doing so but only charge a nominal
Rs.500 for any such account swap during an ongoing loan
repayment process.

Rate of
Interest

The better deal you are able to strike with the
investors the lower will be your interest rate.

Since, you will be receiving a loan from multiple
investors, your interest rate will be a weighted average of
the individual loan parts.

Refund
Policy

The eligibility of being a borrower is determined by
your intention and ability to repay the loan amount.
Fund House reserves the right of selecting the borrowers
suitable for listing on its website. All borrower
applications are subject to stringent verification by the
Fund House's risk management team and in case an
application is not found suitable then Fund House reserves the
right to partially refund the listing fees paid by you and
terminate your loan application.

In case a loan application is rejected prior to listing
on the Fund House portal then Fund House will refund Rs.1000 to
the applicant and provide the following services:

1. An opportunity to register on the website and
explore the platform.

In case, post profile listing borrower is not able to
garner funds or does not accept the funding or for any reason
whatsoever does not get funded, then Fund House will refund
Rs.500 to the borrower in question.

Frequently Asked Questions

What is Fund House?

Fund House is a P2P Lending marketplace for people with
idle cash in their accounts and people with financial needs. It
enables a loan between these borrowers and investors.

Is Fund House regulated?

Fund House being a marketplace does not come under the
purview of RBI.

Over what time frame can I borrow?

You can borrow between Rs. 25,000 and Rs. 5,00,000

Over what time frame can I borrow?

You can borrow minimum for 6 months and maximum for 36
months.

Can I repay my loan early if I like?

Interest rates depend on the credentials of Borrowers and
the ongoing demand of Investors in the Fund House marketplace.
They can only be finalized once the concerned Borrower and
Investor agree mutually on a particular rate.

How does Fund House check my credit?

Fund House conducts a strict verification process of the
data and documents provided by Borrowers. In addition we
appraise each request to ensure the credit worthiness of
Borrowers meets with the market standards. However, individual
Investor is the ultimate judge.

Why was my listing declined?

This may have happened if the verification process for
your application failed.

What happens in case of delayed or
non-payment of EMI?

In case the EMI is not paid by the due date, additional
penal interest of 2% p.m. will be applied to the amount due for
the duration of delay which Borrowers will be liable to pay
their Investor(s) + collection charges of Rs. 500 will be
charged to the Borrower by Fund House. In the worst case
scenario Fund House will facilitate the collections through
empaneled agencies. These are reputed collection agencies that
are empaneled by any bank and financial institutions. This also
includes legal process for recovery of funds if required.

I have defaulted on loan payments
before, or Banks/Financial Institutions have rejected my loan
application. Can I borrow on Fund House?

No, unfortunately Fund House will not approve of your
listing if you do not meet with our credit and verification
standards. However, you can work on improving your credit
history by repaying your debt back and making future payments
to your creditors on time and then try again once, your credit
is good enough.

How are repayments calculated?

Repayments are equated monthly installments calculated
using the reducing balance method. Your installment per month
will remain the same throughout the tenure of your loan. The
first installment may be different depending on the date of
disbursal.

What information can be viewed about
me?

Once your listing has been approved by Fund House, your
entire public profile can be viewed by all registered
Investors. However, we plan not to share private information
but would like to verify them on the behalf of Investors. Your
financial information is shown to the Investor by default as
this helps you get a loan faster. However, you have the option
to block this information. You can interact with investors over
messages. Financial information on your profile will not be
visible to general visitors.

Are there any hidden charges?

No. Everything is transparently explained on the website
and you will receive the Statement of Account that will show
the details. We pride ourselves on our system's transparency.

Can I make one-off payments?

Yes, with no penalty.

Can I change the amount I want to
borrow after applying?

No, as the rate and the amount was agreed in the
Fund House marketplace. To increase the loan amount, you can
create a fresh loan request for the difference

Can my loan request be terminated or
reviewed at any stage?

Yes, if at any stage the information furnished by you or
the verifcation(s) initiated by us are found to be incomplete,
fraudulent or unverifiable then funding request is terminated
and consequently, the invest button on the profile would be
de-activated. The registration amount excluding the listing fee
would be returned accordingly.

What happens if Fund House closes?

In the event of Fund House closing, all loans that have
originated through Fund House still hold good. This is because;
the agreements are still legal and are signed directly between
the borrowers and investors. Our backend team will continue to
collect the money from the borrowers and give it to the
investors. Legal action is possible against borrower defaults.

How do I cancel my loan application?

Please write to support@fundhouse.co.in requesting
cancellation of your registration as Borrower. Loan
cancellation can only happen prior to disbursal of funds.

How do I change my bank details or
set up a new direct debit?

Please write to support@fundhouse.co.in stating your old
bank details and the new ones that should replace the old
details. Swapping charges of Rs. 500 per swap will be applied
to your account.

How to create effective listing?

Please share all the relevant and authentic information.
If any information is missed or entered incorrectly it may lead
to lower ranking for the borrower.

Can I be both, a Investor and a
Borrower?

No. At this time, you can be either Investor or Borrower.
Fund House is working on the operational feasibility of such a
scenario.

Why is Fund House asking me to link my
bank account?

Fund House verifies the financial documents submitted by
the borrower(s) which is considerably time consuming and
thereby delays the borrower's request being listed live on the
marketplace for funding. An automated aggregation of bank feeds
from an extensive range of financial institutions enables us to
serve you better and help in getting you funded faster. We have
partnered with the world leader in bank feed aggregator,
Yodlee. Yodlee currently serves Over 40 million consumers
worldwide, 600 global financial institutions, and 8 of the top
10 U.S. banks in addition to top Indian banks to deliver bank
feed aggregation.

How does Fund House facilitate my loan
and repayment?

Fund House facilitates secure transfer of funds
electronically through an integrated payment system between
Investors and Borrowers.

Is my account linkage secure?

Your account credentials are strongly protected with
stringent security measures, regular security and compliance
measures. Our partner, Yodlee undergoes examinations by U.S.
Banking regulators including the Federal Financial Institutions
Council and the Office of the Controller of the Currency. They
are certified as a Payment Cards Industry (PCI) Level 1 Service
Provider and have EU Privacy Safe Harbor certification. For
what it is worth, we believe that Yodlee's Bank Aggregation
service is a safe and convenient way to access your bank
transactions, which is why we've chosen them as our partner.
Ultimately though, it is your call. We advocate complete
freedom to our users to make their decisions.

Should I share my bank's credentials?

This is an important concern, as some people may feel
that using this service may be in violation of the Terms and
Conditions of some banks against revealing their username and
password but Fund House cannot read, leave alone store any of
your bank information. However, each bank will have its own
stance stances on the use of bank aggregation, so you should
make an informed decision about whether bank feeds are right
for you.